COVID-19: A Crisis or a Catalyst for Corruption?
Back in 2008, during an interview with Wall Street Journal, then-President-Elect Obama’s Chief of staff, Rahm Emanuel said ‘You never want a serious crisis to go to waste.’ While he meant that the silver lining to catastrophes can be
AML RightSource Acquires Arachnys Information Services
AML RightSource (“AMLRS” or the “Company”), the leading outsourced provider of Anti-Money Laundering (“AML”), Know Your Customer (“KYC”), and Bank Secrecy Act (“BSA”) compliance solutions, is pleased to announce it has acquired Arachnys Information Services Limited (“Arachnys”). Arachnys, an innovative
The future of AML compliance for US investment advisors
Highly regulated financial firms operating in the United States are witnessing significant anti-money laundering (AML) legislative and regulatory changes with the passing of the National Defense Authorization Act of 2021 (NDAA) and rule changes proposed by the Financial Crimes
The FinCrime Files – Q&A with Colette Best, Solicitors Regulation Authority
In this edition of our FinCrime Files interview series, we caught up with Colette Best, Director of anti-money laundering at the Solicitors Regulation Authority. Q. Hi Colette, could you tell us a little about yourself and your current role? I have
The KYC & AML challenge for banks [infographic]
Opening corporate accounts at banks is a laborious process which contains multiple friction points. With such a tough KYC challenge on their hands, it is not just the customers that can be disillusioned by a poor customer experience, but
OpenLux: exposing money laundering in Luxembourg
Revelations from the OpenLux investigation underline the need for financial institutions to invest in AML tools and technologies The wheels of international financial regulation often turn slowly, but five years after the Panama Papers scandal exposed the role played by
Are financial institutions facing the ever-growing threat of environmental crime?
The large house with high walls topped by razor wire in an upmarket suburb of Dar es Salaam, Tanzania’s commercial capital, had been under surveillance by the police for several weeks due to suspicious vehicles coming and going at
Reducing the friction: How to accelerate onboarding in business banking
The race to differentiate continues to put the banking sector to the test. As Fintech entrants push through barriers to create exceptional digital experiences, all banks are running a race to create innovative customer products and experiences. Part of this push is
The FinCrime Files – Q&A with Chor Teh, Investec
In this edition of our FinCrime Files interview series, we caught up with Chor Teh, Head of Client Lifecycle Management at Investec. Q. Hi Chor, could you tell us a little about yourself and your current role at Investec? I am
InsideArachnys – Q&A with Iain Rodger, Principal Data Scientist
Welcome to InsideArachnys, a series of interviews where we speak to the people behind the Arachnys platform. This month, we caught up with Iain Rodger, our Principal Data Scientist based in Scotland. Hi Iain, can you tell us a little bit
7 Ways APIs Are Revolutionizing KYC & AML
Anyone working in a compliance role in financial services will appreciate the critical part that software plays in effective onboarding, due diligence and anti-money laundering investigations. As banks strive towards decreasing customer onboarding times, achieving perpetual KYC and enabling
Smoke signals: money laundering and the illegal tobacco trade
One of the key crimes that has alerted financial institutions and regulators is trade-based money laundering (TBML). While we have looked into the issue before here at Arachnys, the complexity that TBML comprises (its wholly global remit and the